Though parallels to interpersonal relationships are drawn to explain various facets of consumer-brand relationships, seldom focus has been shown on explaining the nature of trust and its role in emotional responses, particularly its violations and negative emotions. By drawing from exchange and penetrations principles of social psychology theories, we build a conceptual model describing the development and decline of trust, and its possible outcomes in the consumer-brand dyad. We outline the growth of this relationship through Knapp’s (1978) ten stage model and the evolution of trust over these stages by employing Lewicki’s (1995) development and decline model of trust in relationships. We further posit the emergence of negative emotional responses from the consumers at times of breach of this trust.